Casting and Splinting Market Report

Casting and Splinting Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Format: PDF  |  Report ID: GVR2412

Global casting and splinting market is expected to show lucrative growth over the forecast period owing to rising incidences of musculoskeletal problems. Rise in number of sports, accidents and adventure-related injuries led to more number of musculoskeletal problems, which in turn are helping casting and splinting market to grow. Furthermore, rising number of musculoskeletal injuries due to vehicular accidents is an important factor for growth. In addition, high prevalence of age-related orthopedic illness as a result of presence of high geriatric population base is expected to boost the casting and splinting market growth. Moreover, advancements in casting and splinting materials such as use of fiberglass tape and polyester tape, which give high patient compliance in terms of easy removal with cast saw blade, smooth lamination, improved X-ray radiolucency, and their availability in attractive colors and patterns are expected to boost the casting and splinting market substantially.

Global casting and splinting market is segmented on the basis of equipment and supplies. Amongst casting and splinting, casting segment held lucrative share in 2014. It is also expected to lead the market over the forecast period owing to casting being the traditional and the most commonly used method for bone fracture, hence, it exhibited the larger market size. Casting equipment and supplies are further divided into casting tapes, plaster casts, cast cutters, and casting tools & accessories. Cast cutters held the largest market share in 2014 and are expected to lead the market over the forecast period as a consequence of technological advancements such as incorporation of vacuum-based cutters and ergonomically designed cast cutters, which give easy removal of cast without any further injuries and adjustability of blades depending on the size of the cast. The splinting segment is divided into splinting tools & accessories, fiberglass splints, plaster splints, and other splints. The other splints segment includes advanced products such as wooden splints, plastic splints, neoprene splints, and metal splints. The others splinting segment is expected to witness lucrative growth in the next seven years owing to benefits associated with them such as manufacturing ease of plastic splints, which allows ready customization of splints, in addition, high versatility and strength of neoprene splints.

Geographically, casting and splinting market is segmented into North America, Europe, Latin America, Asia Pacific, and MEA. Asia Pacific accounted for the largest market share in 2014 as a consequence of high population base. Densely populated countries like China, India, Japan, and Korea have high incidences of road accidents and orthopedic injuries, which lead to the wide use of casting and splinting equipment and supplies. Moreover, these countries have large number of manufacturing facilities which can produce affordable casting equipment in large quantities to meet the domestic and global demand. In addition, manufacturing cost in this region is low, which is attracting market-leading companies to invest in Asia Pacific region. North America is expected to remain on second position in terms of market share over the forecast period as a result of the rising toll of musculoskeletal injuries and fractures in this region. Moreover, high incidences of age-related orthopedic disorders as a consequence of rising geriatric population are helping North American market to grow. Additionally, well-planned reimbursement policies are giving access to costly casting and splinting equipment which in turn help market to expand.

Major market players in casting and splinting market are Stryker Corporation, Prime Medical Inc., 3M Healthcare, BSN Medical GmbH, AliMed, Corflex Inc., DeRoyal Industries, Patterson Medical Holdings Inc., Zimmer Inc., and Bird & Cronin Inc. The casting and splinting market is highly fragmented and region-specific. Few players represent the largest players in market which include 3M Healthcare, BSN Medical, Stryker Corporation, and Prime Medicals. The strategies adopted by these companies to gain market share include presence in strategically important regions like Asia Pacific and flexible product offering to meet the demand of large population base. Moreover, outsourcing, manufacturing, and licensing the marketing activities are important trends observed in the market. Furthermore, need for quality medical treatment and fierce competition is expected to provide the growth potential to casting and splinting market.

 

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